Usa Financial News

By Saqib Iqbal Ahmed

Roark Capital Group has won the race to acquire United States sandwich chain Subway after seeing off a late challenge from a rival bid group led by TDR Capital and Sycamore Partners.

Stellantis NV (NYSE:STLA) announced Thursday that the automaker will be expanding its SPOTiCAR program into the United States.

By Davide Barbuscia and Carolina Mandl

Source: Binance

(Reuters) — Whirlpool (NYSE:WHR) agreed to pay an $11.5 million civil fine to resolve charges by the U.S. Consumer Product Safety Commission that it knowingly failed to immediately report some of its electric radiant heat cooktops posed burn and fire hazards.

By Rich McKay and Andy Sullivan

China sought to recruit elite foreign-trained scientists under a lavishly funded program that Washington viewed as a threat to US interests and technological supremacy. Two years after it stopped promoting the Thousand Talents Plan (TTP) amid US investigations of scientists, China quietly revived the initiative under a new name and format as part of a broader mission to accelerate its tech proficiency, according to three sources with knowledge of the matter and a Reuters review of over 500 government documents spanning 2019 to 2023. The revamped recruitment drive, reported in detail by Reuters for the first time, offers perks including home-purchase subsidies and typical signing bonuses of 3 to 5 million yuan, or $420,000 to $700,000, the three people told Reuters. China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. The primary replacement for TTP is a program called Qiming overseen by the Ministry of Industry and Information Technology, according to national and local policy documents, online recruitment advertisements and a person with direct knowledge of the matter who, as with others, spoke on the condition of anonymity because of the issue's sensitivity. The race to attract tech talent comes as President Xi Jinping emphasises China's need to achieve self-reliance in semiconductors in the face of US export curbs.

LCA), the air force is set to order an additional 100 of the Mk 1A variant of the fighter jet, with the order value likely to be around $8 billion. The Indian Air Force (IAF) has already placed an order for 83 LCA Mk1A fighter jets, the first of which is to be delivered by early next year. The Mk 1A version is a major improvement over the 40 Mk1 jets that were originally ordered by the air force, with modern avionics, Active Electronically Steered Radar, a new electronic warfare suite and a Beyond Visual Range missile capability. The order will place the total number of LCA jets-also called Tejas-in the Indian fighter fleet at 223, second only to the Russian origin Su 30MKI fighter jets.

Roark Capital Group has won the race to acquire US sandwich chain Subway after seeing off a late challenge from a rival bid group led by TDR Capital and Sycamore Partners.

This has been a pivotal week for the market, with Nvidia's (NASDAQ:NVDA) earnings report, unveiled yesterday, followed by Jerome Powell's speech at the Jackson Hole Symposium tomorrow.

By Carien du Plessis, Anait Miridzhanian and Bhargav Acharya

Blue chip cryptocurrencies have mostly erased the gains they made on Wednesday, with Bitcoin (BTC) back trading near $26,000 and Ether (ETH) back close to $1,650.

The US’s largest cryptocurrency exchange and the largest publicly traded crypto company in the world Coinbase just released a blog post emphasizing its commitment to respecting the principles of decentralization relating to its newly launched layer-2 Ethereum scaling protocol Base.

US plane-maker Boeing has warned of delays in near-term delivery of 737 MAX jets due to a fresh quality issue. The development comes at a time when Air India and Akasa Air are both waiting for plane deliveries. The plane-maker said it was evaluating its annual 737 delivery target of 450 aircraft.

New Delhi: Months after a US short seller shook markets with a damning report on the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) - an organisation funded by likes of George Soros and Rockefeller Brothers Fund - is said to be planning another 'expose' on certain corporate houses in India, sources said. OCCRP, which calls itself "an investigative reporting platform formed by 24 nonprofit investigative centres... spread across Europe, Africa, Asia and Latin America, may publish a report or a series of articles, three sources with knowledge of the matter said.

MUMBAI : BPEA EQT on Thursday sold its entire 26.63% stake in Coforge Ltd (formerly NIIT Technologies) for ₹7,684 crore to multiple investors through bulk deals, leaving the software services firm without a promoter and the first of its kind to be entirely owned by public investors. The block deals in the software services firm boosted its stock by around 10% to ₹5,391 on Thursday, with the transactions drawing marquee investors such as SBI Mutual Fund, Aditya Birla Mutual Fund, Capital Group and Kotak Mahindra Group. Coforge is a professionally managed company, and hence, no identifiable promoter is a good thing, said an analyst.

NEW DELHI : The European Union (EU) has proposed an investment court system for dispute resolution as part of the bilateral investment treaty (BIT) under negotiation alongside the free trade agreement, European commissioner for trade Valdis Dombrovskis said. EU officials plan to discuss the proposal with finance minister Nirmala Sitharaman on Saturday, Dombrovskis said in an interview. In a sign of easing trade tensions, the EU trade chief said that settlement of outstanding disputes at the World Trade Organization (WTO) is also on the agenda.

BRICS group of countries, comprising Brazil, Russia, India, China and South Africa, has agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE as new members. Concerns of BRICS gradually turning into an anti-West club have increased ever since Russia’s invasion of Ukraine and its “no-limits" partnership with China, which had been especially keen to expand membership. The group’s potential influence over global geopolitics has gone up.

New Delhi: India, which is registering fastest economic growth among top five global economies, is on track to become the third largest economy, finance secretary T.V. Somanathan said on Thursday. India is currently the fifth largest economy behind the US, China, Japan and Germany.

₹77,890 crore ($9.4 billion) by the end of March. That provides enough liquidity for the company to cover debts that will mature within a year. Nearly 60% of its debts were from banks, while the rest are bonds raised from both India and offshore markets.